For beginners, NFL betting odds can be confusing. All of the different numbers and figures can lead to brain fog as you try to figure out how much money you would receive for a successful bet. After all, when there’s real money involved, you want to know what’s going on – especially when your favorite team is playing!
Luckily, this article has got your back. Inside, there’s some helpful information that will ensure you understand NFL betting odds more clearly, enabling you to make smarter (and more informed) betting decisions.
Betting Odds Change from Website to Website
When it comes to NFL betting, individual websites and apps usually offer their own odds. This can be a little confusing for some people, but it’s nothing to worry about. Think of it like this: most grocery stores sell Coca-Cola, but they will usually sell it at different prices from one another. It’s the same concept!
Ideally, you should join an NFL betting sportsbook that offers favorable, high-return odds. This way, there’s a greater chance of you experiencing success!
Pro tip: Don’t join multiple websites at once, as this will lead to confusion. Instead, try to stick with one betting provider at first until you become more experienced. Plus, this also makes it easier for you to track your betting funds.
There are Three Main Types of NFL Bets
In the NFL world, there are three main types of bets that you can place: ‘moneyline,’ ‘against the spread (ATS),’ and ‘over/under.’ Confused? No problem, here’s an explanation of each:
Moneyline is the most popular type of NFL bet, as it’s a simple wager on the team you think will win the game.
- If you bet on a team to win – such as the Dallas Cowboys – and they end up winning, then you’ll get your stake back as well as the additional winnings
- If your selected team loses, the sportsbook gets to keep your stake (the money that you wagered in the first place)
Let’s say that there’s a moneyline of +150 for the Dallas Cowboys to win the game. This means that they’re the underdog, as the number is in the positive range. If you then bet $100 and the Cowboys went on to win, you would then win $150.
In reverse, if the moneyline is -150 for the Cowboys, then you would win $100 for betting $150. Generally, negative odds (with a -) are safer since the outcome attached to them is more likely to happen.
Against the Spread
In NFL betting, the favorite is usually assigned a spread that predicts their winning margin. They need to equal or surpass this spread for your bet to win.
Alternatively, you can bet on the predicted losing team to lose by fewer points than predicted by the spread. Make sense? Awesome.
With over/under betting, it has nothing to do with the outcome of the game. Instead, it’s about the number of points scored. For example, if you think the Chicago Bears will win by 9 points or higher, you’ll need to bet -9.0.
Then, if the Chicago Bears go on to win by 9 points or higher, your bet will be a success, and you can collect your winnings!
The 2022-23 NFL season isn’t starting until September, so you’ve got plenty of time to familiarize yourself with betting odds as well as the rosters for each NFL team. This way, you’ll give yourself the best possible shot at placing successful bets.